Oil reaches its highest price in the last 14 years

This Monday the reference market for Europe's oil stood at almost 140 dollars per barrel, being the highest price in recent times

The price ofBrent quality oil, a reference for Europe, reached the verge of 140 dollars, close to the historical maximums registered in 2008, after soaring almost 20 % at the beginning of the session due to fears that the United States may impose restrictions on the sale of Russian crude.

Before the start of the stock markets of the Old Continent, however, the price of Brent relaxed slightly to stand somewhat above 128 dollars per barrel, still 8.5 % above last Friday’s settlement price.

In the case of West Texas Intermediate (WTI) crude oil, the price of a barrel reached 130.5 dollars, compared to 115.68 dollars at the end of last week. However, before the European opening it was relaxed to 125 dollars per barrel.

The US Secretary of State, Antony Blinken, acknowledged this Sunday that his country has begun to discuss with the European Union and the rest of its allies the possibility of prohibiting imports of Russian oil as a new measure of pressure against the Russian president, Vladimir Putin, for the invasion of Ukraine.

K. Tovar

Source: Telesur

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